https://www.taxtmi.com/caselaws?id=101339 Enhancement of redemption fine and penalty for confiscated imported betel nuts requires contemporaneous evidence of a higher prevailing market value. Where the goods were liable to confiscation for violation of import policy, but the Revenue produced no evidence of higher import or sale prices and relied only on a general assertion that prices were higher elsewhere in the country, no legal basis existed to raise the assessed value or increase the consequential fine and penalty. The request for enhancement was therefore rejected. en-us Mon, 21 Jan 2002 00:00:00 +0530 Thu, 09 Feb 2012 14:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101339 Enhancement of redemption fine and penalty for confiscated imported betel nuts requires contemporaneous evidence of a higher prevailing market value. Where the goods were liable to confiscation for violation of import policy, but the Revenue produced no evidence of higher import or sale prices and relied only on a general assertion that prices were higher elsewhere in the country, no legal basis existed to raise the assessed value or increase the consequential fine and penalty. The request for enhancement was therefore rejected. Case-Laws Customs Mon, 21 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101339